Commerce questions and answers

Commerce Questions and Answers

Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.

2,706.

Hire purchase is beneficial to the seller because?

A.

it enhances his living standard

B.

it increases his turnover

C.

people pay instalmentally

D.

of the patronage he enjoys

Correct answer is B

No explanation has been provided for this answer.

2,707.

A trade association consists of members engaged in the same trade while a chamber of commerce is?

A.

highly regulated by a governent agency

B.

not restricted on a particular industry

C.

made up of members that are registered

D.

made up of firms in the banking industry

Correct answer is B

No explanation has been provided for this answer.

2,708.

The members of ECOWAS include?

A.

Nigeria, Chad, Gabon and Cape Verde

B.

Burkina Faso, Nigeria and Ghana, Algeria

C.

Guinea, Mali, Cameroun and Nigeria

D.

Togo, Niger, Nigeria and Ghana

Correct answer is D

No explanation has been provided for this answer.

2,709.

The most important advantage of privatization is the enhancement of?

A.

liquidity

B.

accountantability

C.

profitability

D.

efficiency

Correct answer is D

No explanation has been provided for this answer.

2,710.

When one person approves an act previously done by another in the former's name without authority, this is known as?

A.

ratification

B.

estoppel

C.

illegality

D.

misrepresentation

Correct answer is B

No explanation has been provided for this answer.